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    2990 Olive St Dallas, TX 75219

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    For Lease
    Contact for pricing

    Prime Dallas location, 1894 sq ft, high-traffic area.

    Lot size:
    1,894 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    401
    This exceptional 1,894 square foot retail space presents a unique investment opportunity in the vibrant heart of Dallas, Texas. Located at 2990 Olive Street, Dallas, 75219, this single-tenant property is situated at the ground floor of the Cirque High Rise Apartments, offering unparalleled visibility and accessibility. The property boasts a prime location at the corner of Field Street and Nowitzki Way, strategically positioned between the bustling Victory Park and the sophisticated Harwood District in Dallas County. This second-generation bank space is ready for immediate occupancy and offers a blank canvas for a variety of retail concepts. The surrounding area is characterized by a high concentration of high-rise office towers and multifamily residential buildings, ensuring a consistent flow of potential customers. Furthermore, the property benefits from its proximity to major entertainment and cultural destinations, including the American Airlines Center, the Perot Museum of Nature and Science, and the House of Blues, attracting a diverse and affluent clientele. The property type is retail, classified as commercial, and the building's total square footage is 1,894 square feet, all of which is currently vacant. This presents a rare opportunity to establish a thriving business in one of Dallas's most desirable and high-traffic areas.

    Property Features for 2990 Olive St

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    1,894 SF

    Unit(s) available at that property

    Space
    Available Space
    Size
    1,894 SF

    HighLights

    • 1,894 SF of available retail space
    • Second‑generation retail space featuring a vault.
    Property Profile Location Intelligence

    Current Use by Public Records

    Amazon Locker - Keyword Mailing Service 7-Eleven Convenience Store Tide Cleaners in 7-Eleven Dry Cleaner KeyMe Locksmiths Key Duplication Service

    Suggested Use

    Dental Office Spa & Massage Realty agency Restaurant Hair Salon Nail Salon Daycare Center Building Supply Gym & Fitness Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Dallas
    County
    Dallas
    State
    Texas
    Longitude
    -96.808604
    Latitude
    32.7899875

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    FAQs

    What type of property is this?
    Retail property - Prime Dallas location, 1894 sq ft, high-traffic area.
    Where is this retail property located?
    The property is located at 2990 Olive St Dallas, TX.
    What are key features of this property?
    This property features: 1,894 SF of available retail space; Second-generation retail space featuring a vault.;
    Request Owner's contact information
    2990 Olive St Dallas, TX 75219
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    Dallas, TX 75219
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2990 Olive St Dallas, TX 75219
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